Exemption u/s 35AC - Central Government had specified for the construction of AdministrativeBuilding, Training-cum-Production Centre and Women Hostel, by Rayalaseema Seva Samithi (RASS), Andhra Pradesh, as an eligible project or scheme - 11505 - Income Tax

Exemption u/s 35AC - Central Government had specified for the construction of Administrative Building , Training-cum-Production Centre and Women Hostel, by Rayalaseema Seva Samithi (RASS), Andhra Pradesh, as an eligible project or scheme NOTIFICATION NO. 11505 DATED 21-9-2000 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 388(E), dated the 19th May, 1997 [published at (1997) 140 CTR (St) 11 issued under clause ( b ) of the Explanation to section 35AC, of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 22 the construction of Administrative Building, Training-cum-Production Centre and Women Hostel at M.R. Palli, Tirupati Rural, Chittoor, District Andhra Pradesh, by Rayalaseema Seva Samithi (RASS), No. 9, Old Huzur Office Buildings, Tirupati, Andhra Pradesh, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99; And whereas the said project or scheme is likely to extend beyond three years; And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of two years; Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1), read with clause ( b ) of the Explanation to section 35AC, of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of Administrative Building, Training-cum-Production Centre and Women Hostel at M.R. Palli, Tirupati Rural, Chittoor, District Andhra Pradesh, which is being carried out by Rayalaseema Seva Samithi (RASS), No. 9, Old Huzur Office Buildings, Tirupati, Andhra Pradesh, at the estimated cost of rupees ninety two lakhs only, as an eligible project or scheme for a further period of two years beginning with assessment year 2001-2002. [F. No. NC-73/2000